Net operating income from the Dagny hotel in Boston is expected to grow from roughly $8m this year to $11m in 2024 and $15m by 2027. Credit: DiamondRock Hospitality Company/ PRNewswire.

DiamondRock Hospitality Company has opened its lifestyle hotel, The Dagny, a 403-room property in Boston.

Inspired by the glamour of the Art Deco era, this property, which marks DiamondRock’s 13th independent hotel, is located near Boston’s Financial District and Faneuil Hall, a historic marketplace.

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The existing hotel building was initially known as the Public Services Building and later as the Batterymarch Building, serving as the largest office space and the first Art Deco skyscraper in Boston.  

In 1995, the Boston Landmarks Commission determined that the exterior of the building be preserved.

In 1998, the building was converted to a hotel while retaining the original gold leaf Art Deco mural of Atlas in its lobby ceiling.

DiamondRock Hospitality Company stated that The Dagny rebranding project saw a $32m investment.

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This investment has been put to create luxury guest rooms, bathrooms, improved meeting rooms and state-of-art fitness facility and a lobby to provide an immersive experience to guests.

The company expects net operating income for the boutique hotel to grow from roughly $8m this year to $11m in 2024 and $15m by 2027.

DiamondRock Hospitality Company president and CEO Mark W Brugger said: “This strong return-on-investment opportunity advances DiamondRock’s strategy to curate unique and differentiated experiences coveted by today’s traveller.

“The Dagny is the company’s 13th independent hotel, marking the first time more than one-third of DiamondRock’s portfolio is fully independent.”